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Tuesday, March 10, 2015

I almost take the plunge and take the biggest commitment ever in my life today. And I'm not even talking about marriage. I almost bought a house. When I started working years ago, I told myself that I should own a property on my own by the age of 25.

Yeah, the young me was so naive.

I had been on a lookout for a house that suits my budget and found one last week. It is a brand new project from a first time developer. I went to the site to survey the area and quite like it. I even done some intensive research on everything from mortgage loan, MRTA, legal fees etc. It feels like I'm reliving my Personal Banker day.

However I still have doubt about this decision. Committing myself to a mortgage means that I have to cut back on my spending. Means no more holidays as often as I want. Whenever I see anything that I like, I'll have to tell myself, xxx equals to 20 tiles and so on. Everything will revolves around the house.

I talked to some of my ex-colleagues and they told me only go for the house if I am really ready, financially and emotionally. I should decide if I ever to buy the house, what is it for, investment or for myself to live in? How about the maintenance of the house? IS the location really good?

After all the talking, I've decided to hold back this year. There's no use to rush the decision because of GST and everything. I don't want to empty my savings just for the sake of owning a property. I'm sad to let go of the house, it has 4 bedrooms and 4 bathrooms (this is a huge point for me) but I believe I'll found another house that can make me fall in love with it again.